Earnings

07 Aug

Google’s Search Dominance Faces Limited Risks Despite Antitrust Ruling

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A federal judge ruled Monday that Google illegally monopolized the search market. Now the hard part: what to do about it. But first... Source link lol

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07 Aug

Intel Has Lost Wall Street’s Patience as Headwinds Keep Mounting

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After another catastrophic earnings report, Intel Corp. bulls are increasingly few and far between on Wall Street.Intel shares have shed nearly a third of their value since the firm gave a grim growth forecast, announced plans to slash 15,000 jobs, and suspended a dividend that has been in place since 1992. The report was the latest in a series of discouraging updates, and underlined the myriad headwinds facing the chipmaker as it struggles to execute an ambitious turnaround and compete in the artificial intelligence era. Source link lol

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07 Aug

Shopify’s Second-Quarter Results Exceed Estimates; Shares Rise

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Shopify Inc. reported second-quarter results that exceeded analysts’ estimates, suggesting that the Canadian e-commerce company is managing to navigate cautious consumer spending. Revenue for the period came in at $2.05 billion, up about 21% year-over-year and beating the $2 billion average estimate of analysts surveyed by Bloomberg. Profit, excluding one-time items, was 26 cents a share, above the 20 cents expectation. Source link lol

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07 Aug

Instacart Posts Sales Beat, Issues Strong Earnings Outlook

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Instacart posted better-than-expected sales in the second quarter, signaling that the grocery-delivery business has a strong enough user base to support its longer-term bet on advertising.Revenue gained to $823 million, far surpassing analysts’ expectations of $806 million. The value of orders placed during the quarter totaled $8.19 billion, also beating estimates. That’s even while the San Francisco firm reported that overall orders grew at a slower pace than expected. Source link lol

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07 Aug

Sony Raises Outlook After Music, Software Help Earnings Beat

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Sony Group Corp. raised its forecast for revenue and profit in the fiscal year to March after a successful quarter for its music and gaming software divisions.The Japanese entertainment giant said its operating profit during the three months ended June was ¥279.1 billion ($1.9 billion), beating the consensus estimate of ¥273.9 billion and the year-earlier profit of ¥253 billion. Sales for the fiscal year are now expected to come in at ¥12.6 trillion, with ¥1.3 trillion yen in operating profit, both slightly raised. Source link lol

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07 Aug

SoftBank Unveils $3.4 Billion Buyback Ahead of Next Big AI Bet

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SoftBank Group Corp. announced a buyback worth up to ¥500 billion ($3.4 billion), following a month of sharp selloffs and pressure from activist investor Elliott Investment Management to bolster its stock price.The Tokyo-based technology investor plans to buy up to 6.8% of its free-floating outstanding shares in the year to August 7, 2025, according to a release Wednesday. The announcement comes after Elliott built a sizable stake in SoftBank this year and had pushed for a $15 billion buyback, people familiar with the matter said in June. Source link lol

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07 Aug

Reddit Sales Exceed Analysts’ Expectations on Advertising Growth

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Reddit Inc. said it expects steady revenue growth from new data licensing partnerships and advertising technology, charting its path forward as a newly public company.Current-quarter sales will be $290 million to $310 million, Reddit said Tuesday in a statement. Analysts had forecast $281.8 million, according the average of estimates compiled by Bloomberg. Source link lol

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07 Aug

Coupang Posts First Loss Since 2022 as Farfetch Deal Saps Profit

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Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine offset strong growth in its core e-commerce business.South Korea’s largest online retailer posted a net loss of $77 million for the June quarter, versus an average estimate for a loss of $11.7 million. Excluding Farfetch and a fine from the Korean authorities, Coupang’s second-quarter net income came to about $124 million, it said in a statementBloomberg Terminal. Source link lol

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07 Aug

South Korea Logs Biggest Current Account Since 2017 on AI Demand

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South Korea’s current account recorded the biggest surplus in more than six years, boosted by global demand for chips used in artificial intelligence and other technology exports that have underpinned the nation’s economic growth.South Korea logged a net $12.3 billion current account surplus in June, the most since September 2017, with semiconductors and communications devices leading the export growth while imports of raw materials and capital goods fell, according to balance of payments data released Wednesday by the Bank of Korea. Net assets in the financial account also increased by $12.2 billion, the most since October 2020. Source link lol

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06 Aug

Lumen Technologies Extends Record Rally on AI Hopes

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Lumen Technologies Inc. shares surged as much as 93% in post-market trading Tuesday, extending gains after notching a record one-day jump in the regular session.Driving the gains was excitement over artificial intelligence and its ability to translate into results for the company. In earnings released after the bell Tuesday, Lumen raised its forecast for free cash flow for the year, saying it expected between $1 billion and $1.2 billion. Previously, it had forecast free cash flow between $100 million and $300 million. Wall Street analysts covering the company expected the forecast to be about $217 billion, data compiled by Bloomberg…

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